When you get ready to sell your Laundromat, you want to get the full value for your investment. Here are a few pointers if you have your Laundromat on the market, or intend to sell soon:
1. Make an extra effort to keep your Laundromat clean, so a potential Buyer's first impression of your store is a good one. Have your attendants wipe down the machines often, paying special attention to dirt and soap powder around the tops and coin slides.
A Buyer will always check the restroom, so make sure yours is kept spotless.
3. Keep the floor clean, and make sure there is no water around the base of your washers. This is a good time to have your floors professionally stripped, cleaned and waxed. Also keep the sidewalk and parking area in front of your Laundromat swept clean, paying special attention to areas that may not have been cleaned in a long time, since a Buyer will see things that you may overlook.
4. Fans tend to gather lint quickly in a Laundromat setting; make sure yours are clean. Clean your glass storefronts, inside and out.
5. If your store has a children's play area make sure it is as clean as possible including tables, chairs, toys, and rugs.
6. Absolutely no out of order signs on your machines! Make sure your swamp coolers or air conditioning are working properly.
7. Replace any burnt out florescent lights in the Laundromat as well as any missing, chipped or discolored plastic ceiling light covers. Ensure the outside lights are all working, and that they come on early if set on timers. If your Laundromat has a lighted outdoor sign, it should be in good shape and in working order.
8. If the shopping center lights are out, the landscaping overgrown or the center just looks shabby, speak with your Landlord about addressing these conditions. Buyers will be looking at your shopping center and the surrounding area before a purchase and having a lot of lighting will make those areas look their best.
9. Remove anything that will not be included in the sale. Most Buyers assume that "what they see is what they get," and don't like feeling "nickel and dimed" over something like a ladder, shelving or a television set. If it is not going to be included in the sale, get it out of the store before your potential Buyer sees it.
10. Speak with your employees about your plans to sell. Most Buyers keep the existing staff when they buy a Laundromat, so explain this to your attendants and/or cleaning person in a positive light before they hear a rumor or see prospects visiting the Laundromat. An informed attendant who recognizes his or her value to a potential Buyer can be a great ally in the sale process.
11. Give your Laundromat a "mini-facelift" by discarding outdated magazines, dead or dusty plants, old clothes left behind and any other clutter in your customer areas or backrooms.
12. Take a close look at your signage, both inside the Laundromat and on the front windows. Throw out any faded, old or negative signs and replace them with fresh upbeat ones - professionally printed if possible.
13. Lastly, a couple of large new plants and a picture or two on the walls can really make an inexpensive but attractive difference in creating an inviting look for your Laundromat and your prospective buyer.